Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.24.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The table below presents details of the Company’s debt as of the following periods and the effective interest rate as of December 31, 2023:
  Effective interest rate December 31,
2023		 December 31,
2022
Adams Street Term Loan
 12.27  % $ 30,522  $ 30,626 
Adams Street Revolving Credit Facility
 16.71  12,000  — 
Adams Street Delayed Draw Term Loan
 12.27  14,769  14,819 
Adams Street Incremental Term Loan
 12.14  31,588  31,695 
D&O Financing Loans 1.92  598  1,798 
Total debt
 89,477  78,938 
Less: unamortized discounts and issuance costs
 1,257  1,615 
Total debt, net
 88,220  77,323 
Less: Short-term debt, including current portion of long-term debt
 1,378  2,578 
Total long-term debt, net
 $ 86,842  $ 74,745 
As of December 31, 2023, the outstanding principal on the Adams Street Credit Agreement incurs cash interest in accordance with the prime rate plus the applicable rates as set forth in the table below:

  Eurocurrency Rate Base Rate
Term loans
 6.00  % 5.00  %
Revolving credit facility:
Aggregate principal of $5.0 million or less
6.00  5.00 
Aggregate principal in excess of $5.0 million
 7.50  6.50 
Schedule of Maturities of Long-term Debt
The maturities of the Company’s long-term debt outstanding as of December 31, 2023 are as follows:

2024 2025 2026 2027 2028 Thereafter Total
Adams Street Term Loan
 $ 310  $ 310  $ 29,902  $ —  $ —  $ —  $ 30,522 
Adams Street Delayed Draw Term Loan
 150  150  14,469  —  —  —  14,769 
Adams Street Incremental Term Loan
 320  320  30,948  —  —  —  31,588 
Adams Street Revolving Credit Facility —  —  12,000  —  —  —  12,000 
2022 D&O Financing Loan
 598  —  —  —  —  —  598 
Total long-term debt maturities
 $ 1,378  $ 780  $ 87,319  $ —  $ —  $ —  $ 89,477 
Schedule of Interest Income and Interest Expense Disclosure
The table below presents the interest expense on debt, including the amortization of discounts and issuance costs for the following periods:
Year Ended
December 31, 2023 December 31, 2022
Interest expense on debt $ 10,702  $ 8,220